What’s Next for Trilogy Energy Corp After Today’s Gap Up?

 What's Next for Trilogy Energy Corp After Today's Gap Up?

The stock of Trilogy Energy Corp (TSE:TET) gapped up by $0.06 today and has $10.59 target or 58.00% above today’s $6.70 share price. The 5 months technical chart setup indicates low risk for the $878.32 million company. The gap was reported on Nov, 21 by Barchart.com. If the $10.59 price target is reached, the company will be worth $509.43M more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 207,100 shares traded hands. Trilogy Energy Corp (TSE:TET) has risen 49.38% since April 15, 2016 and is uptrending. It has outperformed by 45.52% the S&P500.

Trilogy Energy Corp (TSE:TET) Ratings Coverage

Out of 8 analysts covering Trilogy Energy Corp (TSE:TET), 1 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 13% are positive. $11.50 is the highest target while $3.75 is the lowest. The $6.67 average target is -0.45% below today’s ($6.7) stock price. Trilogy Energy Corp has been the topic of 30 analyst reports since July 21, 2015 according to StockzIntelligence Inc. IBC initiated Trilogy Energy Corp (TSE:TET) rating on Wednesday, June 15. IBC has “Sector Perform” rating and $5.25 price target. As per Friday, November 20, the company rating was upgraded by GMP Securities. The stock has “Hold” rating given by TD Securities on Wednesday, November 9. The stock of Trilogy Energy Corp (TSE:TET) earned “Sector Perform” rating by RBC Capital Markets on Monday, October 31. The rating was maintained by Raymond James with “” on Monday, June 6. The company was maintained on Tuesday, November 8 by RBC Capital Markets. Scotia Capital maintained the shares of TET in a report on Tuesday, November 8 with “Sector Perform” rating. Dundee Securities downgraded Trilogy Energy Corp (TSE:TET) rating on Tuesday, January 12. Dundee Securities has “Neutral” rating and $4 price target. The stock has “Sector Perform” rating given by National Bank Canada on Thursday, November 26.

More news for Trilogy Energy Corp (TSE:TET) were recently published by: Marketwired.com, which released: “Trilogy Energy Corp. Announces Financial and Operating Results for the Six …” on August 04, 2016. Marketwired.com‘s article titled: “Trilogy Energy Corp. Announces Crude Oil Emulsion Release in Kaybob Area” and published on October 07, 2016 is yet another important article.

Trilogy Energy Corp. is a Canada-based petroleum and natural gas-focused energy company. The company has a market cap of $878.32 million. The Firm acquires, develops, produces and sells crude oil, natural gas and natural gas liquids. It currently has negative earnings. The Company’s gas and oil properties are located in the Kaybob area and Grande Prairie area of Alberta.

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